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Huashengchang: Plans to acquire 100% equity of Gland through cash payment
Beijing News Shell Finance reported that on February 27, Huashengchang announced plans to acquire 100% of Shenzhen Galiante Technology Co., Ltd. (referred to as “Galiante”) with cash. The estimated total valuation of the target company’s 100% equity is temporarily set at 460 million yuan. At the same time, the company’s controlling shareholder and actual controller, Yuan Jianmin, signed a “Share Transfer Agreement” with the founding shareholder of the target company, Yu Xinwen, agreeing that Yuan Jianmin will transfer 9.4701 million shares, representing 5% of the company’s total share capital, to Yu Xinwen through an agreement transfer.